HDFC Q1 profit jumps 22% YoY to Rs 3,669 crore, misses estimates

HDFC clocked the highest percentage growth in individual loan AUM in 8 years

Mortgage lender Housing Finance Development Corporation (HDFC) reported standalone net profit of Rs 3,668.82 crore on Friday, for the April-June quarter of fiscal 2022-23 (Q1FY23), driven by higher interest and dividend income. This was 22.2 per cent higher than last year’s (Q1FY22’s) profit of Rs 3,001 crore. 
 

Sequentially, the profit slipped marginally by 0.8 per cent from profit of Rs 3,700 crore reported in Q4FY22. The consolidated Profit After Tax for the quarter ended June 30, 2022 stood at Rs 5,574 crore.
 

The management said assets under management (AUM) at the end of the June quarter stood at Rs 6.71